Key Key Aspects
- The price of the corrugations was corrected higher and broke the resistance from $ 0.2660 and $ 0.2800 against the US dollar.
- C & # 39; is a new downtrend line formed with resistance at $ 0.3010 on the hourly chart of the XRP / USD pair (data source from Kraken).
- The pair is currently below the 100-hour SMA, but remains supported near $ 0.2660.
The price of the ripple is showing some positive signs against the US dollar and Bitcoin. The XRP / USD must remain above $ 0.2660 to further recover over $ 0.3000 in the short term
Support for the price ripple
Yesterday a decent movement started and the price of Ripple was moved above the resistance of $ 0.2660 against the US dollar. The XRP / USD has even broken resistance levels of $ 0.2800 and $ 0.2850 to set the pace for further gains. However, the $ 0.3000 resistance was a major obstacle for buyers. The price failed to exceed $ 0.3000 and reached a maximum of $ 0.3029. Subsequently, it was corrected below the Fib retracement level at 23.6% of the last wave, from $ 0.2472 downwards to $ 0.3029 at the top.
Also, there was a close below $ 0.2900 and the 100-hour moving average. On the downside, initial support is close to the $ 0.2751 level. Represents the 50% fiber retracement level of the last wave, from $ 0.2472 down to $ 0.3029 up. However, the most important support is close to the $ 0.2660 level, which is a rotation zone. As long as the price is over $ 0.2660, it could increase. On the upside, an initial resistance is close to $ 0.2880 and the SMA to 100 hours. Also, there is a new downtrend line formed with resistance at $ 0.3010 on the hourly chart of the XRP / USD pair
Watching the chart, the ripple is still supported and could possibly make another attempt to surpass $ 0.2900 and $ 0.3000 in the short term.
Looking at the technical indicators:
MACD timetable – The MACD for XRP / USD is about to return to the bullish zone.
RSI Time (Relative Strength Index) – RSI for XRP / USD is flat around level 50.
Major Support Level – $ 0.2660  Main resistance level – $ 0.3000